Massachusetts Pension Reserves Investment Management Board, Boston, will commit up to $125 million to Blackstone Capital Partners V, the record $12.5 billion buyout fund Blackstone Group is now raising. The $37.3 billion fund has earned strong returns on previous investments with Blackstone, said Wayne D. Smith, PRIM's senior investment officer, alternative investments.
Separately, the board voted to rehire incumbent real estate consultant The Townsend Group. Only one other consultant had responded to the fund's latest RFP for a real estate consultant, which it issues every three years.
